Yesterday Justin Trudeau and Bill Morneau rolled out their budget. It’s a bit different from what they promised to get elected. For one thing, the budget didn't "balance itself." There’s an $18 billion deficit.
Before Trump’s tax cuts, Canada actually had a more favourable tax environment for companies:
The average U.S. corporate tax rate was 38.9 per cent. In Canada it was 26.7 per cent.
Well, Trump took a chainsaw to that. Now the average U.S. corporate tax rate is 24.9 per cent.
No wonder the stock market is juiced. No wonder companies are expanding, building factories. And they’re about to cancel NAFTA on us.
But Trudeau’s budget? It was as if none of this was happening.
Instead, we got a budget about feminism and global warming.
If you’re thinking of building a factory, would you consider investing in the U.S, or in Canada, a jurisdiction where a wannabe Kardashian says you have to have your factory reviewed for its gender sensitivity?
I’m not kidding.
The word "gender" appears in the budget 358 times — and the whole budget document is 369 pages.
The words "feminism" or "feminist" appear in there 24 times. "Transgender" is in there, too.
By contrast, say, to "pipelines." Or "farm." When those words show up at all, it's not good news, as I'll show you tonight.
Trudeau’s never run a company in his life. Neither has Catherine McKenna. But they’re going to change the law to force feminism on companies in the country. More red tape. More wasted money. More costs. More distractions. More reasons to up and move to the U.S. — even if NAFTA isn’t scrapped.
Trudeau isn't reacting to the world — to Trump, to tax cuts, to competition. It’s like he’s just dancing, dancing, dancing.
But hey — Bono, that rock star from the 1980s band U2 — he loves this budget, especially the spending in foreign countries.
So it’ll all work out, right...?
NEXT: Aaron Wudrick, Federal Director of the Canadian Taxpayer Federation, comes on to explain why he calls this "the Seinfeld budget."
THEN: Joseph Humire, Executive Director of the Center for a Secure Free Society, updates us on the deteriorating situation in Venezeula.
FINALLY: Your messages to me!